From reader Franz in Luxemburg re last EconomyGuy.com issue: ‘Life in France’ “You perfectly described the reason why the French (and probably all the Europeans) are economically and financially going down the drain. The described sewer cleaning activity is exactly what they are doing to get rid of the common currency stink: lots of noise [...]
Life in France……. Today I feel the urge to talk about the French sewer system. As background, you should know that I live in the old, old, old section of Antibes, and the building where we have our apartment was built (on top of old rubble that was Roman) in 1640. Well, right across the [...]
News From Europe…… The news continues to pour in about Europe and its attempts to stem the crisis of European sovereign debt. Here are some of this week’s headlines: The Italian bond sale went very well as the 6 month notes went for below 4%, a major fall in interest rates. However, the 10 year [...]
Merry Christmas……. This is to wish all the readers of EconomyGuy a very Merry Christmas from all the people at EconomyGuy (that’s Cyrus and Tom). It has been a decidedly amazing year in the economics of the world, and 2012 promises to be even more interesting. We are in the final days of 2011 – [...]
The US Budget explained……. Here is a great explanation of the US Federal Government’s Budget sent in by Cyrus Uible – it’s size, it’s income, its debt – and it relates it to the average American family. While the total debt is now well over $15.1 TRILLION – so these numbers are a little old, [...]
Fincon = 2 (12/21/11) ECB Bails out European Banks…….. Today the European Central Bank loaned 489B Euros ($639B) to a whole gaggle of European banks. It is a 3 year loan at 1% interest rate – not bad if you are a bank. We all know why they did it; those banks were all underfunded, [...]
A Visit to the Boulangerie…… Today, I hope to give you a little insight into the French culture. I will hopefully give you more to think about on your next trip to France. I have been cultivating a relationship with a particular owner of a Boulangerie (a bakery) by giving them all my daily business. [...]
FINCON = 2 (12/20/11) Stock markets continue to go sideways – lots of volatility up and down – nothing new with that. Bond markets are hitting approaching new highs with the 10 year bond going to 1.80%. This is a show of safety conern. Oil is down around $95 showing a concern that the world [...]
Here are the closing statistics for our key indicators (12/12/11): FINCON = 2 What is going on with gold?…….. The short answer is “I don’t know.” The reason I don’t know is that all the data is not in yet, and won’t be in on what happened this last week until this weekend, or early [...]
Here are the closing statistics for our key indicators (11/30/11): FINCON = 2 European State…….. Italian bond interest rate went up again today. The markets are testing the resolve of the European leadership. Italy had a 5 year note auction, and it paid an interest rate of 6.47% – the highest ever paid for the [...]
